Managing Director & CEO’s Letter
- Financial Performance: Achieved significant growth with total income reaching ₹105.79 Cr, a YoY growth of 33.75%.
- Strategic Milestones: Surpassed the ₹100 Cr revenue mark, highlighting the company’s robust growth trajectory.
- Global Expansion: Expanded presence with new offices in Eastern Europe and South Korea, and a recent acquisition in the UK.
- Technological Advancements: Continued investment in AI and real-time rendering technologies to enhance service offerings.
- Client Base: Expanded globally, serving clients from offices in Chennai, Pune, London, and Vancouver.
- Future Outlook: Optimistic about sustained growth driven by strategic initiatives and market expansion.
Management Discussion and Analysis
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Industry Overview:
- Global VFX Market: Valued at US$ 10.0 billion in 2023, projected to grow to US$ 18 billion by 2032 (CAGR of 6.7%).
- Demand Drivers: Increased demand for high-quality visual effects in films, TV shows, advertisements, and digital media.
- Streaming Platforms: Growth driven by the proliferation of streaming services and digital media channels.
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Operational Highlights:
- Revenue Milestone: Surpassed the ₹100 Cr mark in total revenue.
- Team: Approximately 500 members catering to clients worldwide.
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Strategic Initiatives:
- Technological Investments: Focus on AI and real-time rendering.
- Market Expansion: Entered new markets in Eastern Europe and South Korea, and acquired a company in the UK.
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Future Prospects:
- Growth Potential: Significant growth potential due to technological advancements and international market expansion.
- Challenges: Persistent global inflation and high government debt could pose challenges.
Tax Incentives:
- France:
- Tax Rebate for International Productions (TRIP): France offers a 30% tax rebate on qualifying expenditures incurred in the country for international productions.
This rebate can increase to 40% for VFX-related expenses exceeding a certain threshold. Projects must meet specific criteria, including shooting days in France and expenditure on French services.
- United Kingdom (UK):
- Indie Tax Credit: The UK government introduced a 40% tax relief for films with budgets up to £15 million to support the domestic production sector.
This relief aims to boost the independent film industry.
- Visual Effects Tax Credit: Starting in April 2025, visual effects will see a tax credit increase to 39% in the UK.
Additionally, there will be a 40% relief on business rates for studio facilities in England to support the VFX industry.
3. India:
- Government Incentives: India provides incentives such as cost reimbursements up to 30% to attract foreign collaborations and boost competitiveness in the VFX industry.
Access full report: https://www.nseindia.com/get-quotes/equity?symbol=BASILIC
D: Invested.
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